Crypto trading for newbies

[ForexWarrior2020]

Crypto is extremely volatile even more so that Gold. The idea a newbie would begin there is crazy in my opinion

 

[Amina El Mehdi]

Crypto is extremely volatile even more so that Gold. The idea a newbie would begin there is crazy in my opinion

But you can`t stop someone from craziness. If a newbie want to start with crypto trading i can advice him at least to use a very small leverage.

 

[Purecaster]

It's not a bad idea and if you know your business you are able to try no one prohibits. You have to know that crypto is so volatile hence it's the most difficult asset which you can predict the price movement in my opinion, thus it wo'nt bring you anything good, only disappointance and money losses. However, theflip side of the coin is that you can make solid income on crypto because of its volatility. Various strategies which are used for technical analysis for other assets don't work properly on crypto as I think, hence you will spend too much time on creating your personal strategy and then after you create it and test it, there is a risk that it one day will fail.

 

[perryjohn765]

it can be a bad idea for the newbies. As it is very volatile and can be difficult for the newbies to control and overcome losses

 

[FriendlyFX]

I'm only getting to grips with it now after 3 years of Forex trading .
Would recommend building a foundation in FX first before trying Crypto

 

[FriendlyFX]

Crypto is extremely volatile even more so that Gold. The idea a newbie would begin there is crazy in my opinion

That's true and the spreads can be horrible also

 

[sarah2701]

But for newbies they can start with small lot sizes, newbies can also give it a try.

 

[ForexWarrior2020]

That's true and the spreads can be horrible also

Really can be its such a new asset that these factors have to be considered. I much prefer it for long term plays at the moment

 

[JimmyRozza]

Is trading crypto for a newbie a bad idea, as in can the markets be read the same way as forex?

TA works the same across the board, however they are a lot more volatile.... High risk vs high reward, etc.
Fine as a newbie IMO, it's how we learn, but use a much lower leverage.

Also, remember the golden rule to all investing.... Never risk more than you can afford to loose.

 

[TareqS]

Cryptos are more volatile. I have found some of my Forex strategies do not work at all in Crypto market. I believe crypto trading requires us to use bigger time frame such as the Daily, Weekly etc. I recommend that if you do want to start Crypto trading, test your strategies on demo account. Once you find them consistent, then you may go live trading. I am wishing you all the very best.